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Poll shows higher consumer confidence in Q1
By Wang Yanlin |
April 12, 2011, Tuesday
|
Online Edition
Online Edition
CONSUMER confidence in Shanghai's economy rebounded in the first quarter of 2011, thanks to the city's solid growth. But concerns over inflation hardly eased, a survey showed today.
The Shanghai Consumer Confidence Index climbed to 106.0 in the first three months from 102.3 in the previous quarter which marked a one-year low, according to a quarterly survey by the Shanghai University of Finance and Economics.
An index reading above 100 means consumers are positive about the economy, while one below that implies the opposite.
Xu Guoxiang, the research program leader and director of the university's Applied Statistics Research Center, said people became more worried, not less, over inflation despite of a higher confidence reading.
"Prospects of more interest-rate increases, growing consumer prices and more restrictions for property investment make the rebound not a particular strong one," Xu said.
The survey found 71.2 percent of the respondents expected prices to rise in the next six months while 23.9 percent said prices may not change much. And 76.4 percent of the respondents felt more interest-rate rises are likely in the next six months, compared with 70.9 percent a quarter earlier.
The Shanghai Consumer Confidence Index climbed to 106.0 in the first three months from 102.3 in the previous quarter which marked a one-year low, according to a quarterly survey by the Shanghai University of Finance and Economics.
An index reading above 100 means consumers are positive about the economy, while one below that implies the opposite.
Xu Guoxiang, the research program leader and director of the university's Applied Statistics Research Center, said people became more worried, not less, over inflation despite of a higher confidence reading.
"Prospects of more interest-rate increases, growing consumer prices and more restrictions for property investment make the rebound not a particular strong one," Xu said.
The survey found 71.2 percent of the respondents expected prices to rise in the next six months while 23.9 percent said prices may not change much. And 76.4 percent of the respondents felt more interest-rate rises are likely in the next six months, compared with 70.9 percent a quarter earlier.
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